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Table 9 Definition and explanation of variables

From: The influence of political connection on corporate social responsibility——evidence from Listed private companies in China

Type

Name

Code

Description

Dependent Variables

CSR

CSR

(Donation + Sponsorship Fee + Funds + Environmental Expenditure + Cash Paid to Employee and for Employee + Dividend and Interest Paid in Cash + Prime Operating Cost + Actual Paid Taxes) / Prime Operating Revenue

Society Orientation

SOCO

(Donation + Sponsorship Fee + Funds + Environmental Expenditure)*10,000 / Prime Operating Revenue

Employee Orientation

EMPO

Cash Paid to Employee and for Employee / Prime Operating Revenue

Investor Orientation

INVO

Dividend and Interest Paid in Cash / Prime Operating Revenue

Customer Orientation

CUSO

Prime Operating Cost/ Prime Operating Revenue

Government Orientation

GOVO

Actual Paid Taxes/ Prime Operating Revenue

Independent Variables

Political Connection

POLC

If chairman of the board or general manager is or had been government official, NPC delegates, CPPCC delegates, Party Congress delegates, et al., POLC equals to 1. If not, POLC equals to 0.

Control Variables

Company Scale

SIZE

Log (Total Asset)

Financial Efficiency

ROA

ROA

Duality

DUAL

If the general manager and chairman is one person, DUAL equals to 1. If not, Dual equals to 0.

Company Growth

GROW

The growth rate of main operation income

Fixed Asset Ratio

FIX

Fix Asset/ Total Asset

Year

YEAR

7 year, Dummy Variable

Industry

IND

15 industries, according to CSRC’s industry classification standard (2012)